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1010 S Spruce Street, Vivian, LA

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1010 S Spruce Street

Vivian, LA 71082-3232 - Caddo Parish Submarket

Property Type:Office Sub Type:Medical Status:Existing Year Built:2018
Stories:1 Typical Floor:4,914 SF Building Size:4,914 SF
For Sale Price:$1,976,000 Price/SF:$402.12
Cap Rate:6.00 %
Parking:24 Surface spaces are available; Ratio of 4.88/1,000 SF

Sale Notes:
INVESTMENT OVERVIEW. Peranich Huffman Net Lease Group is pleased to offer for sale, the single-tenant net leased Fresenius Medical Care of Vivian, Louisiana. The brand new 4,914 square foot, state-of-the-art freestanding facility consists of 15 patient stations, plus one isolated station located in a separate room.

TERM & GUARANTY. The new 15-Year lease is Corporately Guaranteed by Fresenius’ parent company, Fresenius Medical Care Holdings, Inc. (“FMCH”) which shall commence in the first Quarter of 2018. The lease also provides for scheduled rent increases of 10% every 5-Years during the primary term, with (3) 5-Year options to renew thereafter.

ABOUT THE TENANT. Fresenius Medical Care is the largest provider of renal care in both the United States and across the world. Fresenius delivers services to patients with chronic kidney failure and end stage renal disease. Fresenius has a net worth exceeding $22.50 billion and currently holds S&P’s Investment Grade credit rating of “BBB Stable”.

LEASEHOLD INTEREST. The property is subject to a long-term 50-Year Ground Lease with the hospital, whereas Fresenius is solely responsible for all Ground Lease rent payments and operating expenses; thus, the new owner IS NOT responsible for the payment of the Ground Lease’s rent.

NET LEASE STRUCTURE. The lease is structured on a net basis, whereby Tenant is responsible for all expenses relating to property taxes, utilities, insurance premiums, landscaping & janitorial services, as well as the repair and maintenance of the (i) parking lot, (ii) HVAC units, and (iii) all interior portions of the premises. The Landlord is solely responsible for capital expenditures resulting from the replacement of the roof, HVAC, and parking lot.

Peranich Huffman Net Lease Group
Jonathan Peranich
(832) 602-3383

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